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FAIR VALUE MEASUREMENTS (Tables) | 9 Months Ended
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Sep. 30, 2021
Fair Value Disclosures [Abstract] |
Schedule of Fair Value, by Balance Sheet Grouping | The following table presents the carrying amount and estimated fair values of our financial instruments as of September 30, 2021 and December 31, 2020, using market information and what we believe to be appropriate valuation methodologies under GAAP:
|  | September 30, 2021 |  | December 31, 2020
Asset (Liability) (a) |  | Carrying Amount |  | Fair Value |  | Carrying Amount |  | Fair Value
| Level 1 |  | Level 2 |  |  | Level 1 |  | Level 2
Cash and cash equivalents, excluding Timber Funds |  | $419,604 |  |  | $419,604 |  |  | — |  |  | $80,454 |  |  | $80,454 |  |  | — |
Cash and cash equivalents, Timber Funds |  | 12,202 |  |  | 12,202 |  |  | — |  |  | 4,053 |  |  | 4,053 |  |  | — |
Restricted cash, Timber Funds (b) |  | 49,209 |  |  | 49,209 |  |  | — |  |  | — |  |  | — |  |  | — |
Restricted cash, excluding Timber Funds (c) |  | 625 |  |  | 625 |  |  | — |  |  | 2,975 |  |  | 2,975 |  |  | — |
Current maturities of long-term debt, excluding Timber Funds (d) |  | (199,887) |  |  | — |  |  | (201,440) |  |  | — |  |  | — |  |  | — |
Long-term debt, excluding Timber Funds (d) |  | (1,167,967) |  |  | — |  |  | (1,173,657) |  |  | (1,300,336) |  |  | — |  |  | (1,313,631) |
Long-term debt, Timber Funds (d) |  | — |  |  | — |  |  | — |  |  | (60,179) |  |  | — |  |  | (60,474) |
Interest rate swaps (e) |  | (24,178) |  |  | — |  |  | (24,178) |  |  | (51,580) |  |  | — |  |  | (51,580) |
Forward-starting interest rate swaps (e) |  | 11,206 |  |  | — |  |  | 11,206 |  |  | (12,529) |  |  | — |  |  | (12,529) |
Foreign currency exchange contracts (e) |  | (349) |  |  | — |  |  | (349) |  |  | 6,018 |  |  | — |  |  | 6,018 |
Foreign currency option contracts (e) |  | — |  |  | — |  |  | — |  |  | 1,515 |  |  | — |  |  | 1,515 |
Noncontrolling Interests in the Operating Partnership (f) |  | 140,555 |  |  | 140,555 |  |  | — |  |  | 130,121 |  |  | 130,121 |  |  | — |
(a)We did not have Level 3 assets or liabilities at September 30, 2021 and December 31, 2020. (b)Restricted cash, Timber Funds represents the portion of proceeds from Fund II Timberland Dispositions required to be distributed to noncontrolling interests. See Note 22 — Restricted Cash for additional information. (c)Restricted cash, excluding Timber Funds represents cash held in escrow. See Note 22 — Restricted Cash for additional information. (d)The carrying amount of long-term debt is presented net of deferred financing costs, unamortized discounts and fair value adjustments on non-revolving debt. See Note 9 — Debt for additional information. (e)See Note 10 — Derivative Financial Instruments and Hedging Activities for information regarding the Consolidated Balance Sheets classification of our derivative financial instruments. (f)Noncontrolling Interests in the Operating Partnership is neither an asset or liability and is classified as temporary equity in the Company’s Consolidated Balance Sheets. This relates to the ownership of Rayonier, L.P. units by various individuals and entities other than the Company.

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- Definition Tabular disclosure of the fair value of financial instruments, including financial assets and financial liabilities, and the measurements of those instruments, assets, and liabilities. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 825 -SubTopic 10 -Section 50 -Paragraph 11 -URI http://asc.fasb.org/extlink&oid=123594938&loc=d3e13467-108611 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 820 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (a) -URI http://asc.fasb.org/extlink&oid=123874694&loc=d3e19207-110258 + Details
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